NASBA National CPE Expo: Day 1 and Day 2

The first two days at NASBA's National CPE Expo have been outstanding. The event itself is first-rate all the way around and you can tell that hundreds of hours went into preparing for the inaugural CPE Expo.

The Henry B Gonzalez Convention Center is located right on the San Antonio Riverwalk. So, when your CPE session has a break and you step outside, you're right by the water. This isn't your typical stuffy convention center.

Conference attendees get breakfast and lunch served to them and I thought the food was quite good. It's not your typical bagel and cereal continental breakfast…it's an actual hot meal with fruit and whatever else you would typically want. The lunches are on the lighter side with a salad and sandwich or wrap.

The exhibit hall was well attended by the typical names that you could think of in the CPE business and there were a lot of accounting product-related exhibits as well. On Monday, NASBA hosted a happy hour when the exhibit hall was first opened to attendees. I had an opportunity to meet a lot of people around the industry.

The selection of CPE courses was broad and I was able to pick some that are relevant to my career, which is somewhat hard to do since I really don't work in accounting anymore.

My two favorite sessions were the Federal Tax Update and the class on the major differences between IFRS and GAAP. I liked the Federal Tax Update class because the instructor was engaging and walked around the room and interacted with the class. He didn't stand a lectern and go through power point slides. He didn't even use a power point presentation. The class was given a binder with the outline of his lecture and he walked us through today's current events and how they affect taxpayers.

The class on IFRS vs GAAP was educational and head-spinning all at once. The instructor has consulted businesses on IFRS in over 30 countries and she definitely seemed to be the right person for the course. IFRS is principles-based and GAAP is rules-based. The US has a big learning curve ahead of it if IFRS is adopted.

I am taking a CPE class on IFRS implementation next.

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SwissBlissSC 12 years ago

Jeff, I was under the impression from some research I'm currently doing that IFRS is rules-based where GAAP is principles-based. I wasn't sure if that was a typo or if that's what they were teaching, and if it's what they were teaching, do you remember where she was getting that info? I may want to include the difference in my 15-page paper on the topic. Thanks!

Jeff - 12 years ago

Yes - IFRS is principles based, leaving the company to use it's best judgment and the auditors to be the "cops" as to what is material. The GAAP rules are voluminous whereas the IFRS rules will not be nearly as voluminous b/c they are principles-based. I just looked at my booklet and it definitely says IFRS is principles-based. There aren't as many rules, but the disclosures will be more voluminous than under GAAP. Hope that helps a little...

SwissBlissSC 12 years ago

Yeah, it does. I was actually coming back to write that I found that one of the source's info that I found was faulty. Not sure if I bit off more than I can chew on writing a 15-page research paper about IFRS vs. GAAP with so little hard fact research out there. There are still a lot of theories and opinions. Should be interesting.

Donna 12 years ago

Hey Jeff-wish I could of been there-I live just outside of SA but had family flying int that week. We were actually at the Riverwalk this past Saturday (9/26) and ate at the Tower of the Americas. Hope you enjoyed your stay in the great state of TX! :)